Bucobank to train loan defaulters on new business opportunities and strategies

The General Manager of the Builsa Community Bank (Bucobank) in the Upper East Region, Hayatudeen Awuou Ibrahim, has hinted that as part of their plans to attract more clients and recover all loans, management is putting in please measures to train loan defaulters on new business opportunities, to enable them to make more returns to be able to pay back their loans.

According to the Manager, loan defaulters sometimes do not have the requisite knowledge in the kind of business they intend using the money for before rushing to borrow money and so end up wasting the money on an unintended purpose.

Mr. Awuou Ibrahim believes that the move will give the loan defaulters the opportunities to train themselves in areas that will enable them operate their businesses professionally to enable them to bounce back and be able to pay their loans.

Speaking on Reporters Visit on A1 Radio, Awuou Ibrahim explained that, most of the customers of rural banks are local members and sometimes they do not have the expertise needed in operating the business they intend investing their loans into.

“As far as we are concerned, we have a contract which we expect that every loan client should respect. If for any reason you default and for that matter fail to fulfill that contract rules and regulations, we will engage with you and get to know why you fail to pay and if it is a genuine reason, we will then set in measures on how to help you bounce back and pay the loan.” He said.

The Manager also added that, Bucobank is technological equipped and was the first rural bank in the region to have come out with a “GH Link Card” which gives customers the opportunity to have access to their money anywhere and anytime.

“Apart from international banks which we are not given the permission to operate our “GH Link Card” with, our customers can use the card at all the banks in country and they can access their savings. Again, we are the first rural bank to deploy an ATM Machine and not only that, but a Machine that has a “GH Link Card” that a customer can access it transactions at any bank in Ghana and beyond provided that the customer has that card.” He explained.